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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Cavalry who wrote (6295)	11/11/1998 2:20:00 AM
From: Merritt	Respond to of 7247

Cavalry: I first traded LJPC in Aug '96...saw some action and bought on momentum. I called IR, and could hear a party going on; they'd just finished analyzing the Phase II results for their lupus drug, LJP-394. My positive take on their feelings about the drug were reinforced by the deal they worked out with Abbott...$50mm, and LJPC gets additional royalties and manufacturing rights. There's about a 400,000 market in the U.S. for their drug, if it gets approval. I like the co. and think it's probably worth a play, but they only have one product in clinical trials, to my knowledge. That makes it very risky, IMHO. I plan to trade it again, but I'm going to wait until it goes back down as I feel this latest bump was caused by the $4mm payment from Abbott. Wouldn't be surprised to see it above $10-$12 by next summer. Good luck, Merritt